OPEC and allies agree to extend record production cut

Not enough comparable past events yet for a historical read.

After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.

• Nov 30, 2020Opec agrees to extend existing oil production cuts: Abdelmadjid Attar+1.5%
• Dec 7, 2018OPEC and Russia agree to slash oil production | CNN Business+2.2%
• Nov 30, 2018OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg+0.1%
• Jun 8, 2020Oil prices top $40 as OPEC+ extends production cuts | Fox Business-8.3%
• Apr 9, 2020OPEC and allies agree to historic 10 million barrel per day oil cut-20.7%

After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.

• Nov 30, 2020Opec agrees to extend existing oil production cuts: Abdelmadjid Attar+3.5%
• Dec 7, 2018OPEC and Russia agree to slash oil production | CNN Business+2.2%
• Nov 30, 2018OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg+0.1%
• Jun 8, 2020Oil prices top $40 as OPEC+ extends production cuts | Fox Business-7.2%
• Apr 9, 2020OPEC and allies agree to historic 10 million barrel per day oil cut-20.8%